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Why Do You Need A Retirement Plan? | Why do you need a retirement plan ? You do n't . Not having a plan is a plan in it 's self . You can do nothing for your retirement and hope that social programs are available to provide you food and shelter . OR you can plan , set aside and invest for your future and have a say in it . You do n't have to have anything , all having something does is give you a choice . | Everyone who is healthy enough and can afford to purchase disability insurance should do so . Disability insurance is paycheck protection . The most significant valued asset in every household is human value , the ability to earn money . Protecting your paycheck is one of the highest priorities in defensive planning . Depending upon your gender , age , smoking status , health history and current medical condition , you may pay between 3 and 5 % of your compensation with disability insurance . |
Does Homeowners Insurance Cover Fences? | It may provided that your policy includes coverage for additional structures on your property . Talk to your insurance Professional about the particular terms and conditions of your policy and ask if this is included . In most cases , it is and the coverage is usually limited to 10 % of the current dwelling amount . Any loss settlement would , of course be subject to your property deductible. , | The amount of money you can borrow from your cash value life insurance policy depends upon several items . Was the policy designed for cash accumulation or death benefit coverage ? What was the crediting method : interest rates , indice returns or separate subaccount performance ? How long has the policy been in force and are there surrender charges that apply when taking out loans ? And speaking of charges , what is the loan cost for borrowing from your policy . All these items should be addressed before borrowing from your policy . So , order an in force ledger to determine what you have then another in force ledger that demonstrates how much you can borrow and still keep the policy in force . |
What Is Included In Full Coverage Auto Insurance? | The full coverage portion of your auto insurance is Collision which covers your car in the event of an at fault accident . Comprehensive or Other than Collision covers your car for things like animal strikes , vandalism , tree limbs falling on your car , rocks thru your windshield , anything that is not a collision . Many policies also include towing . Some companies have a few other little bells and whistles . | If youre past the reinstatement period you are not covered . If you run out of cash values in a policy and the policy lapses you are not covered . If you inadvertently or deliberately let the policy go unpaid on its anniversary or month bank draftand you are past the reinstatement period you are not covered . |
What Is Included In Full Coverage Auto Insurance? | Full coverage really is not the best choice for describing the coverage 's that are included with that term . What makes a policy have full coverage is that the insurance will pay for your loss minus the deductible you choose . Many people choose higher deductibles for comprehensive and collision of $ 1000 the after that amount you pay they pay the rest . In our area here in Montana most of the time there is only about 3.00 a month difference between a 100.00 deductible and 500.00 deductible it is much easier to come up with the 100 rather then 500 discuss your options with your local agent . Full coverage is meant to help you recover the cost if in the event of a loss less your deductible . | How much disability insurance do you need ? Well , the answer will vary depending on the individual and what they have asset and investment wise and how willing they are to liquidate those assets . As far as how much or how long or how soon is a function of looking at your situation and finding something that works for you . |
Does Your Medicare Number Ever Change? | Your Medicare number will normally stay the same unless you request to change it . Also , it normally does not need to renewed or replaced , so if you get a call asking for your Medicare number for purposes of renewal , do not give out that information . If you have asked for a replacement , it will be done by a written request . Medicare numbers can change if the circumstances for how your are receiving Medicare have changed . E.g. . You were receiving Medicare through a spouse who passed away , and remarried and are now receiving Medicare through a new spouse . | No , not usually . When you lease a car you will be required to purchase Auto Insurance with certain minimum limits depending on the leasing company . In my area they require at least $ 300,000 liability limits for example . The company you lease from will inform you what is required in your situation . |
Can You Get A Medicare Card Online? | Once you sign up to receive Medicare benefits -LRB- this can be done online at the social security website , ssa.gov -RRB- , they will send you your Medicare card -LRB- it 's a red , white , and blue card -RRB- in the mail . I do n't believe they allow you to download one to print off . Mailing the card to you is the standard procedure . | There are 2 ways to file a claim you can contact the carrier claim number that is listed on your policy or you can contact your agent that wrote your policy . I Always instruct our clients to contact us 1st that way we can document your file and make sure that your claim has been process right away and filed correctly . having to file a claim is stressful enough a good agent should be able to guide you through the process |
Can I Get Life Insurance When Pregnant? | It 's going to depend on what trimester of pregnancy the person is in . Usually the first two trimesters it is not a problem as long as there is a good record of prenatal care and things are considered to be a `` normal '' pregnancy . The third trimester can be a bit dicey as the closer the potential insured gets to delivery , the more a insurance carrier will want to wait . Your chances are pretty good if you are maintaing good health during the pregnancy and under a doctor 's care . Expect underwriting to go a bit longer than usual as doctor 's records will be asked for . Just do n't put it off till the third trimester if it is something you need to do . | The short answer is : it depends on the need . Term insurance is ideal for short term protection -LRB- e.g. paying off a mortgage or providing income in the event of an early or unexpected death -RRB- . Permanent insurance is ideal for long-term safety net protection , estate planning , retirement planning . Many people buy both types of coverage - some permanent to protect against the future after other debts are paid off and some term to cover time-limited debts -LRB- such as a mortgage , car , etc. -RRB- . Term insurance provides more bang-for-your-buck up front , but it 's only for a short period . Permanent insurance allows you to pay the same premium for the rest of your life without having to worry about it going up in the future . A brief description of the two types of coverage are as follows : Term life insurance guarantees the premiums will remain fixed for a specific number of years -LRB- 10 , 15 , 20 , 25 , or 30 years -RRB- . Once the initial period of premium guarantee expires , the program changes to either annual renewable term insurance with premiums increasing each year -LRB- based on age -RRB- or the premiums remain the same and the death benefit decreases each year -LRB- this structure can be seen on term insurance that is featured on a universal life chassis . There is no cash value build-up in term insurance . Permanent life insurance is designed to provide coverage for the rest of the insured 's life and build cash value . Under a guaranteed universal life -LRB- GUL -RRB- program , the policy can be structured to keep premiums level and provide coverage up to a specified age -LRB- e.g. to age 90 , to age 100 , or even up to age 121 -RRB- under the `` dial down '' process . Whole life features level premiums and death benefits and builds cash value at a faster rate -LRB- participating WL policies may pay dividends that can be used to increase the death benefit or decrease the premiums over time - non-participating WL policies do not feature this ability -RRB- - the trade off between this and guaranteed universal life is that to increase the cash value faster , the premiums will generally be substantially higher . For both GUL and WL , the carrier takes back the cash value upon the death of the insured , and pays out the death benefit proceeds . Therefore , GUL policies allow you to maximize your death benefit and minimize your premium dollars that you pay for the coverage . I highly recommend consulting with an independent insurance agent/broker to determine what policy benefit structure will best serve your needs , review quotes , and help you through the application and underwriting processes . Please feel free to contact me for help and if you have any other questions . Thanks very much . |
Can I Get Life Insurance When Pregnant? | I am not aware of any carrier that will issue a life insurance policy to a pregnant female . There are many risk factors to consider which make it impossible to properly price the risk of a life insurance policy on a woman that is pregnant . Every carrier I am aware of will not consider an application until the pregnancy has ended and the woman has been released from her doctor 's care . | Life insurance proceeds generally pass to the the beneficiaries of the policy tax free . There are exceptions for business scenarios where the proceeds are subject to the AMT and estates that are larger than the unified credit or resident state exemptions . Consult your tax attorney for specifics in your state . |
Can I Get Life Insurance When Pregnant? | If applying for a simplified issue policy that does not require exam , there are some carriers that will allow a woman to easily obtain life insurance while pregnant . However , she must be able to answer `` no '' to the question asking if surgery or hospitalization is anticipated for the near future . | Renters Insurance rates are based on two primary factors . # 1 - the amount of coverage required for two specific areas , and # 2 - the rating of the individual and location . Let 's look at # 1 first . Renters Insurance provides coverage for Loss , Theft and Damage for personal property of the insured , and a level of coverage for personal liability as well . The insured selects the coverage based on the amount of personal property they own . They can also choose to select either an Actual Cash Value policy or a Full Contents Replacement policy . The ACV policy will be less expensive , but will pay out less on a claim , as the ACV factors in depreciation of the item . On a Full Contents Replacement policy , the premium is higher , but the policy will usually pay the original purchase price of the item . Of course , both policies will subtract the deductible before paying out a claim . For # 2 , the rating factors , the insurance company will look at several items , such as age of the policy owner , how many adults are living in the property , if the insured individuals are smokers or non-smokers , the type of construction of the building , the safety and security features installed -LRB- if any -RRB- in the residence , any prior claims the insured may have on their record , and a few other items . The policy premium can be reduced based on the establishment of various discounts , such as Multi-Policy discounts . So the best answer I can give you is to talk to a licensed , professional insurance agent , and always get multiple quotes . Do n't just choose the cheapest quote however . Make sure you understand the differences between the underlying policies , how claims are handled and etc. . Just because one policy is less expensive than another does n't mean it is better . |
What Type Of Retirement Plan Is TRS? | The Teachers Retirement System -LRB- TRS -RRB- is a retirement plan for teachers by state , i.e. each state has their own plan with specific provisions and benefits . But it 's basically a defined contribution plan , generally through payroll deductions , so the contributions are pretax and accumulate tax deferred until retirement where distributions are taxed as ordinary income . | Exercise equipment is not covered by Medicare because it is not medical in nature . Medicare will only pay for durable medical equipment . Some items are covered because they are medically necessary ; some items are never approved , even if there is a need . Exercise equipment falls into the latter category . |
Can You Buy Renters Insurance Online? | There are plenty of online options for purchasing renters insurance . Many people prefer to call a local independent insurance agency , however . The are several reasons . Completion of all the questions on the application often needs the assistance of a licensed Customer Service Representative in the specific State where the rented residence is located . Also , many feel more comfortable working with someone with whom they know . | As a general rule , all doctors accept Medicare payment under the assignment process . Some refuse assignment and ask you to pay at time of service . Most doctors limit the number of Medicare patients they will treat . If you have Medicare Advantage the situation is different . In some areas less than half the doctors participate in Medicare Advantage networks . |
How Does A Split-Dollar Life Insurance Policy Work? | A split dollar life insurance policy is not a type of insurance , but a way of paying for and collecting on life insurance so that it benefits two parties , usually an employer and employee . The policy is taken out on the employee as a benefit , reward , and/or way to retain them . Premiums and benefits are `` split '' by the two parties . The way the split dollar life insurance policy works involves how premiums are paid , who owns the policy , and how to divide the death proceeds , cash values and/or dividends.There are two popular ways to structure split dollar life insurance . Both designate the employee as the Insured . 1 -RRB- Endorsement . The employer is the owner of the policy and endorses it so that some or all of the death benefit will go to the choice of beneficiary of the Insured , when the insured employee dies . 2 -RRB- Collateral Assignment . The employee owns the policy and collaterally assigns some of the death benefit to the employer as reimbursement for premiums paid . To find out the best way to structure split dollar life insurance for business or family purposes , it is important to have correct financial and legal advice . Call a reputable life insurance agent or agency to start working on your split dollar life insurance policy . | Immediately ! Call your agent or insurer and get started on that process . Claims can take a while to resolve or they can be resolved quickly . If you have a police report or evidence ready to go as soon as you file your claim , it can often get fixed faster . That said , you can usually submit your evidence after the initial filing . I 'm not aware of any company that wo n't let you submit evidence after filing your claim but there are a lot of companies out there . Long-short of it , file as soon as possible . |
How Long Can You Keep A Roth IRA? | One of the advantages of a Roth IRA is that there arent any mandatory distributions as there are with many other retirement programs . A Roth IRA can be passed to heirs without losing any of the value of the account . The Roth account provides unusual flexibility and used wisely can save a great deal of money in retirement . | Talk to your Insurance Professional when you are in the process of shopping for a new car . They will be able to give you an idea as to the difference in premium for the new vehicle so you are not surprised . When you have made your decision , provide them with the Year , Make Model and Vehicle Identification number for the new car along with any lien or lease information . They will be able to process the transfer of coverage from your old car to the new one and provide your dealership with all the necessary documentation to enable them to finish your deal and transfer the registration as well to the new car . |
Can I Take A Life Insurance Policy Out On My Grandmother? | Can you take out a life insurance policy on your grandmother ? That question , like most on this website , can not be answered with a straight yes or no . If your grandmother lives with you and you share in her income and expenses , you should be able to take out a policy of at least $ 100,000 on your grandmother . If you are buying a policy so that you can pay for her funeral , you should be able to take out at least $ 15,000 on her . If neither of those are the case , you may not be allowed to take out a policy on your grandmother . It depends on the circumstances , the company , and the type of policy you are buying . Insurance fraud often involves people taking out life insurance on older persons who have a short life expectancy , by younger people who have no financial interest in the lives of the Insured . Life insurance companies each strive to prevent that type of fraud in their own way , and thus you will find different regulations involving whether or not a grandchild can take out a policy on a grandparent . Suffice it to say that if the cause is legitimate , it is usually OK to take a life insurance policy out on a grandmother . | People would buy term life insurance to cover a temporary need . E.g. Most people need more coverage while raising children . Term insurance costs less than permanent , and there will not be a need for that much coverage after the children are grown . So for that purpose , 20 to 30 year Term works well . Some loan companies require term insurance to protect them if the borrower should pass away . Term insurance is well suited to temporary needs . |
Can I Take A Life Insurance Policy Out On My Grandmother? | As long as your grandparent qualifies to be insured and is willing to go along with the process , including application and medical underwriting , and gives you permission , yes . There must be an `` insurable interest '' for a person to take out a life insurance policy on another person , and relatives generally fit that description . Your grandmother must qualify by being of an insurable age , usually under 85 , in some cases 80 or younger . | This procedure exists in one of those gray areas and the answer will differ depending upon the underlying need for this surgery to the jaw . From a health insurance perspective the key issue is whether the terms `` medical necessity '' versus `` cosmetic '' apply to the need for this surgery . If a clear case for medical necessity for this procedure is established you can generally expect most health insurance plans to cover it . However , the line between medically necessary and cosmetic can often be in the eye of the beholder so you should not expect a health insurance company to routinely approve such a procedure and you should definitely not proceed with scheduling such a procedure without checking with your health insurer first and getting clear approval . Often the insurance carrier will want written documentation from one or more health care providers that there is a medical necessity for this procedure to be performed . It is also likely that the insurance carrier will want to make sure that other , less drastic approaches have been exhausted before they will approve this procedure . Some of these options may include orthodontia treatment which will fall under the coverage of dental insurance -LRB- if you have it -RRB- not your health insurance . As a general rule , just because the jaw issue leads to a misalignment that may keep you off of a magazine cover or presents the member with self-image problems will not be seen as justification for covering this procedure . |
What Is Mutual Whole Life Insurance? | A mutual life insurance company is owned by their policy holders who select a board of directors , generally by a proxy vote to operate the company on their behalf . Every year the board of directors generally declares a dividend which in turn is distributed pro rata to their policy holders . | Over 47 million nonelderly individuals were uninsured in 2012 . This represents a decrease of almost 2 million uninsured people since 2010 . This change resulted from small gains in public coverage and stability in private coverage . However , the number of uninsured is still more than 4 million higher than when the recession began in 2007 . The continued weak economy contributes to the high uninsured rate . More individuals would have become uninsured were it not for the stability of coverage provided by Medicaid and CHIP . |
Is Leaking Roof Covered In Homeowners Insurance? | It may be depending upon the cause of the damage that is resulting in this leak . Talk to your Insurance Professional about the specific terms and conditions of your policy to better understand the coverage and limitations . In general , if the leak is the result of damage that is caused by a covered peril , they subject to your policy deductible , you more than likely have some coverage . | This is a really good question . Everybody asks it . You do have some options . Lets see what the ramifications would be of choosing each one . You could drop it when you feel it has outlived its use . Lets suppose you originally bought a policy for family protection . But now , the kids are out of the house . You probably feel you dont need life insurance any more . But what about the next stage of your life ? And the stage after that ? What if you need to maximize your pension distribution ? What if a child - or for that matter a parent - becomes dependent on you later in life ? What if you want to leave a legacy of charitable bequests ? What if you want to start a business after you retire , and need to indemnify a bank loan ? Sure , you could always pick up coverage at that point . You think . Assuming you qualify medically and otherwise . And assuming you want to pay the extra cost due to a higher age . Then again , you could drop it when you feel you can afford to self-insure . So now you have a accumulated a sizable portfolio of assets . Your net worth is right up there . Why should you pay for life insurance when there is so much money at the disposal of your heirs ? But if you have demonstrated such savvy in reaching this pinnacle of success , you would certainly consider the following : What percentage of your asset portfolio is liquid ? Life insurance would pay your beneficiaries within days . If any bills have to get paid right off the bat , they will need liquidity . What about a estate equalization ? Some of your heirs may be in business with you and therefore inherit the firm . What about your children who are not working with you ? You probably want to take care of them as well . Life insurance could give them the same value as those children who inherit your business property . How about estate taxation ? Why would you want to pay Uncle Sam a ton of money dollar for dollar when you could have a life insurance policy take care of that obligation for pennies on the dollar ? The bottom line is that you could drop your life insurance any time you want . You just need to be prepared to face the consequences . |
What Is The Difference Between Life Assurance And Life Insurance? | It is just terminology , there is no real difference . Some companies like to use the word assurance because they feel it promotes a better image of the product . It all falls under the umbrella of insurance , they pay at the death of the insured and may build cash value . Do n't get confused with marketing terminology . | Non qualified tax deferred annuities generally can be annuitized by the policy owner at anytime . Annuitization can cover a single life or joint life as well vary in payout scenarios , i.e. 10 or 20 years certain . But true annuitization generally -LRB- now more then ever -RRB- is understood using the life only option or lifetime income you ca n't outlive . most annuity owners trigger annuitzation at or near retirement . |
What Is The Difference Between Life Assurance And Life Insurance? | Life Assurance is a term more commonly used in the United Kingdom , but it describes the same basic contract that is known as life insurance in the United States and elsewhere . Life insurance is a contract where a company and a policyholder agree that in exchange for a specified amount of money , the insurance company will provide a specified death benefit if death occurs during a specfied period of time . | No , under the mandate you will not go to jail . You will be paying a penalty however that is tacked on to your income tax . Refusal to pay taxes can result in fines or imprisonment whether it involves health insurance or not . You have to decide whether you are going to pick up health insurance or pay the penalty . |
What Is The Difference Between Life Assurance And Life Insurance? | In Canada , you will see both Life Insurance companies and Life Insurance companies . As mentioned Assurance is UK English and Insurance is American English . Generally you the older Canadian companies tend to use the UK English and the newer use both . If you have further questions , please do not hesitate to contact me . | It is important to remember that the `` insurance you are buying at your employer is `` term insurance '' . If you are a '' family man '' how far will $ 50,000 go if yuo are deceased . The point is every time you buy a life insurance policy you are paying the `` administrative costs '' associated with that policy . Instead of having multiple companies that your wife will have to provide proof of death claims forms is it going to easier on her and cheaper on yuo to have a `` life insurance needs analysis '' and provide that level of coverage with a policy that is designed to stay with you through the life of the children and to meet yuor burial expense needs ? |
When Are Annuities Used? | There are two basic types of annuities , immediate and deferred . Deferred annuities are used as money accumulation vehicles , since they are issued by insurance companies they have features and guarantees other investments can not match . These are of particular interest to self - employed -LRB- any age -RRB- , OR those within 10 to 15 years of retirement or already retired . Guaranteed Investment Annuities -LRB- GIAs -RRB- are similar to Guaranteed Investment Certificates -LRB- GICs -RRB- more information is available at www.GuaranteedInterest.ca In Canada , variable annuities are called segregated funds or seg funds they are similar to mutual funds . More information available at www.ProtectandGrow.ca Immediate annuities provide a guaranteed income stream in exchange for a lump sum premium . They are used as part of a retirement income strategy to provide stability.They are often used to build a guaranteed income to cover fixed expenses . If have assets that are generating interest income and you do not need access to all the capital during your lifetime , the `` insured annuity strategy '' is worth exploring . The objective is to increase your current after tax income while preserving your asset for your heirs . Not for everyone , but the results can be quite dramatic , so it is worth a look . Annuities can also be used to assist in a number of personal and corporate planning strategies , too numerous and complex to be cover here . In Canada , if you are over 65 , income from Interest from a prescribed non-registered annuity qualifies for the $ 2,000 pension tax credit . Note : Interest from a Guaranteed Interest Annuity -LRB- GIA -RRB- also qualifies . GIAs are like Guaranteed Investment Certificates -LRB- GICs -RRB- but the are issued by insurance companies . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . | Most health insurance plans have provider networks that include doctors , labs , clinics , hospitals , pharmacy 's , etc. . When you use the services of a par provider -LRB- one that is in the network -RRB- your costs are lower than they would be if you used a non-par provider . PPO -LRB- Preferred Provider Network -RRB- is a common type of provider network . |
What Is The Meaning Of Retirement Annuities? | Payout annuities are often called retirement annuities or income annuities . There are many different variations or options available : term certain , life annuity , joint and last survivor , indexed , etc. . Essentially , you exchange a lump sum of money for an income stream . Annuities are an important part of your retirement income planning and can be complex . An independent insurance broker can help you find an annuity that is right for you . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . | Any true major medical insurance policy , group or individual , should cover treatment for Lupus as it is an autoimmune disease in the same class as arthritis . Perhaps a person who was issued an individual health insurance policy that was grandfathered under the terms of the health care reform law was issued coverage excluding Lupus as a condition of issuing the coverage but that 's about the only context I can think of where this question could arise . Certainly in the era of health care reform , especially after January 1 , 2014 , coverage for conditions such as Lupus should not be a big point of discussion . No policy issued after that date can have pre-existing condition exclusions or limitations . That being said , how treatment for conditions such as Lupus are handled from a level of coverage perspective can and do vary from one insurance carrier to the next . First of all , your perception of coverage may be affected by the type of policy you have enrolled in . If you enrolled in a policy with a $ 6000 deductible then your perception might be that your condition is n't being covered when actually it is but you are n't seeing any benefits until you 've met your deductible . In other cases your insurance carrier may have treatment protocols in place that guide your physician on the methods of treatment and types of medications that must be adhered to for treatment of such a condition and these may be a departure from your past experience and usage . If you are covered under a non-compliant health plan , possibly a limited benefit or indemnity type plan , then it is quite likely you would have little or no coverage for Lupus or be subject to pre-existing condition exclusions and/or waiting periods . Short Term Medical policies , which by nature do not cover pre-existing conditions , are also another possible area where a person could find that Lupus would not be covered . But , in today 's environment , a person suffering from Lupus can get major medical coverage that covers their condition . |
Will Car Insurance Pay For A Cracked Windshield? | A cracked windshield is covered under the comprehensive portion of your policy . This section is subject to a deductible so the company will replace the windshield and you must pay the deductible . Driving with a cracked windshield is dangerous so get this replaced soon . If the damage is slight many companies will provide repair coverage under the comprehensive portion and will waive the deductible . | How to qualify for preferred plus life insurance rates varies and only some companies offer them . Examples would be Standard , Preferred or Super Preferred rates . Standard is what the name implies regular rates for a person of that age . Height weight are inline and no health concerns or `` dangerous '' activities . Preferred rate as you might suspect is in a little better health and has good activity habits . Super Preferred or Preferred Plus qualifiers are in excellent health , are very physically active and have a very good family medical history . Should point out , that the best smokers can hope for is that some companies of preferred standard smoker rates . Super Preferred is not available . Since the qualification and product varies by company , an independent insurance broker , should be able to help you find the right policy and the right price . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community . |
Will Car Insurance Pay For A Cracked Windshield? | Great question , and a great answer , provided that you have comprehensive coverage on your car . Yes damage is covered , and it is wise to look at what the repair will cost , and at your deductible . If the cost to repair it is less than the deductible , it may make more sense to skip filling a claim . You would have to pay the deductible amount before insurance starts paying anyway , and you can avoid possible rate increases down the road . Thanks for asking ! | A Long Term Care Insurance plan is an insurance policy that pays the benefit when the insured person is unable to care for themselves for an extended period of time . It can provide funds to a nursing home or other care facility , or it can pay the benefit directly to the insured person to spend on their own care as they see fit . To qualify to receive a benefit from a long term care insurance plan , the insured person must need assistance to perform at least a couple activities of daily living , such as bathing , dressing , or eating . Sometimes a mental impairment can trigger the benefit to start being paid . Policies have elimination periods , and you must wait until those days are up before beginning to receive payments for your care . |
Does USAA Drug Test For Life Insurance? | Yes , all carriers require a urine and blood test when applying for life insurance . The lab results are reviewed to check for drug use along with other tests such as cholesterol , blood sugar , liver enzymes , etc. . There are guaranteed issue or simplified issue policies that may not require blood or urine samples , but there are questions asked about drug use on the application that must be answered . | Does High Cholesterol effect life insurance rates ? Yes , absolutely , High Cholesterol my even prevent you from purchasing life insurance at all . Depending on your score and ratios , high cholesterol will lower the class -LRB- rate -RRB- that you could receive . Exceptions are made for those who can show a good track record of medicated care that has reduced and controlled cholesterol levels . So treated cholesterol that shows control will not hurt the applicant as much as untreated or high numbers . This situation like high blood pressure , is treated more favorable by underwriters as it shows a history of care about the condition . |
Does USAA Drug Test For Life Insurance? | Yes , any life insurance company that requires a blood test , urine test , or oral swab in order to get a life insurance policy will test for the presence of illegal drugs and cotinine -LRB- an indicator of cigarette use -RRB- . This is called a medically underwritten policy . If using a No Exam policy , they do not require an exam and do not test for drugs , although they will usually ask about drug use on the application . | One of the best aspects of life insurance is that it is income tax free if set up properly when purchased . If the beneficiary or contingent beneficiary is a named party -LRB- loved one -RRB- and not to the estate in almost every circumstance the life insurance proceeds are tax free . |
Does Homeowners Insurance Cover Arson? | Not if the insured or resident of the household is involved in the arson . If the previous is not the case then typically you would be covered . Remember every policy is different . Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you . | Why can ? A simple question , but yet , so complex ! Why can someone do this or why can someone do that ? I have often pondered for hours to come up with the answer . And I believe , after years of thought-provoking consultation with friends and relatives ... I have the answer to the question `` Why can ? '' The answer ? Why not ? |
What Is A Renters Insurance Policy? | A renter 's insurance policy covers your personal property when you do not own the residence you occupy . It also covers your liability , medical payments to others , additional living expenses and numerous other items . Typically , the cost is fairly cheap and an experienced broker in your area can easily compare the best plans for you . | If you are starting a business you will either need buy/sell life insurance for a partnership or key man life insurance for sole proprietor . Start ups can be tricky . You must calculate the capital infusion and sales if any . You may need a third party audit to place a value on your business . Once you have that number , that should be near your face amount or in partnerships valued equally divided by the percentage of ownership . You may want to save money and start off with a 10 year term and repurchase in a couple of years once annual sales are established . Good luck and congratulations ! |
What Is A Renters Insurance Policy? | Your property is not covered by the insurance carried by your landlord . The landlord is not responsible for your personal property . If someone is injured on the property that you rent , you could be included in the lawsuit . Where will you go if the property you rent is suddenly uninhabitable ? If someone breaks in and steals your jewelry , television , computer and coin collection , you might want it replaced . Sometimes a landlord requires that you carry a tenants policy . Those are a few reasons to have a tenants policy . | You can dispute a homeowner 's adjuster if you believe you have a fair and valid point . Simply ask to speak to his/her supervisor and explain your position and provide proof or documentation why you feel the amount offered in the settlement was not fair . Typically , they will study your information and discuss why or why not they will make a change . |
Where Do I Get Disability Insurance? | where do I get disability insurance ? In Washington State , you 'd get it from me ! ;-RRB- What you would want to do is meet with an agent and go over your options , with a great deal of time spent on understanding the definitions of disability . With disability coverage , the definition is everything . Without a good definition , the premium may be cheap , but collecting on a claim may be hard . | Eh ... . little more involved than thatThe Affordable Care Act was enacted on March 23 , 2010 . It contains some tax provisions that are in effect and more that will be implemented during the next several years . The following is a list of provisions for which the IRS has issued proposed and/or final guidance ; additional information will be added to this page as it becomes available . WEBSITELINK |
Is Life Insurance Required In Ohio? | As an experienced Ohio broker -LRB- 32 years of experience -RRB- , I 'll answer the question . No . That was simple ! You are not required to purchase life insurance in Ohio . For additional information regarding Ohio life insurance prices , consult an experienced broker who lives in Ohio and who is a FULL-TIME agent as opposed to a consultant , navigator or any other part-time position . An experienced agent/broker will shop the major carriers for you and provide expert advice in the state they are most familiar with ... Ohio ! | A driveway would not typically be covered by a homeowners insurance policy . A homeowners insurance policy typically provides coverage for the main premise and other buildings that are located on the same land parcel as the premise . Please read your policy completely to under the coverage provided and any exclusions that may be contained within . |
Is Life Insurance Required In Ohio? | The State of Ohio does not require Ohio residents to purchase life insurance . They also do not require employers to provide life insurance . Life insurance is still a voluntary purchase in every state , and you are free to purchase the amount and type of policy you want , and that fits your budget . | A life insurance physical usually involves taking a blood sample , urine sample , blood pressure reading , and pulse . The examiner will weigh you and measure your height , plus sometimes waist or other measurements . You will be asked medical questions that you probably have answered already , but they are asked again to verify that the information is correct . Sometimes an EKG is done . |
Is Life Insurance Required In Ohio? | As a stand alone financial issue life insurance is not required in Ohio or any other state except by court decree in a divorce settlement . Banks may require life insurance to indemnify them against loan defaults because of the death of a business owner or partner . Thus far the state has n't equated life insurance with healthcare as mandatory . | Disability Insurance is what pays your bills if you are unable to work . When you buy Long Term Disability Insurance , you pick an elimination period that can be from a month or up to a year , with the most common elimination period being 3 months . When you are determined unable to work due to illness or injury , your elimination period starts counting down . When that time is up , your Disability Insurance starts paying you cash . By that time , most people have had to dip into savings and/or make other adjustments to their lifestyles , just to get by . Having Disability Insurance to pay them a large percentage of their paychecks is important for financial , emotional , and possibly even physical reasons . |
Does My Homeowners Insurance Cover Lost Wedding Ring? | Great question . Generally no , your Homeowners ' policy will not cover for anything that is lost . This is referred to as `` Mysterious Disappearance '' in your policy documents and is usually listed as a specific exclusion . That having been said , you can certainly obtain coverage for such a loss by working with your insurance professional and asking that the item be insured specifically either as a rider which is attached to your Homeowners ' policy or as a stand alone separate policy . You will need to provide a current appraisal and the item would be insured to the stated amount on the appraisal . Such riders or separate policies -LRB- commonly referred to as `` Personal Inland Marine '' -RRB- include much broader coverage than does a standard Homeowners policy and will cover for such a loss . | In some situations , the answer is yes . Medicare will pay your doctor to discuss issues related to diabetes , high blood pressure , cholesterol and obesity . Often the counseling will include information on nutrition and diet . If you are obese , your BMI -LRB- body mass index -RRB- is 30 or higher , you may qualify for additional weight loss counseling . |
Does My Homeowners Insurance Cover Lost Wedding Ring? | Great answer by Tom . Remember even items covered under an endorsement may be subject to a deductible and possible exclusions . Many homeowners policies limit the amount of coverage provided for personal items . These items would typically be covered under an endorsement and as Tom had stated previously covered for a stated amount or an appraised value . | The safest annuities available would be fixed annuities . These annuities make fixed payments to the annuitant for the life of the contract . How the annuity is structured is very important . You have a number of options to choose from when creating the annuity that will influence your monthly distributions . If the policy is set up to only make payments while you are living -LRB- a single-life annuity -RRB- , then once you die the payments cease and whatever funds were paid into the annuity are not returned . You can also structure the distributions to continue until the spouse dies -LRB- a joint life annuity -RRB- . Another structure or to force payments to continue for a specified number of years -LRB- and go to a tertiary beneficiary - e.g. your kids -RRB- . The drawback of a period certain annuity is you can run the risk of outliving the annuity -LRB- e.g. you 're 65 years old and you have a 15 year period certain annuity that makes payments to you until age 80 . If you live to 81 , you will no longer have those funds to depend on each month . -RRB- . It 's important to consult with an experienced , independent annuity broker who can discuss your situation with you on a personal level and help you create an annuity that will best serve your needs . I hope the information is helpful - please feel free to contact me for assistance and if you have any other questions . Thanks very much . |
What Is Social Security Disability Insurance Benefits? | If you are fortunate enough to be awarded `` disability status '' under Social Security your benefit amount is based on how long you have been paying into social security and will reflect what your `` retirement benefit '' would have been if you had contiued to be employable . Obviously you want to avoid having to be classified as `` disabled '' the younger you are because you will find it very difficult to be classified `` disabled '' and your benefit amount will be minimal | There are various ways . My best advice would be to contact your insurance professional and ask . This assumes that you did not obtain your policy through on line sources of course . Check in your car 's glove box . There you should find an Insurance Identification Card issued by your carrier and showing the name and contact information for that carrier . In most states , you would have had to provide proof of insurance at teh time you registered your car . |
Who Has The Best Critical Illness Insurance? | It 's difficult to assign a ranking to critical illness . There are several good companies representing the critical illness market . That being said , Assurity Life insurance company is a major player in this arena and our group plan offers employees the opportunity to secure critical illness insurance at a discount through them . | A trust is a legal entity . A trust can be flexible . A beneficiary designation is rigid . A trust can be charged with a variety of tasks . Your estate plan might call for unique handling of insurance proceeds , such as caring for a handicapped child , which will require discretion . The trustee that administers the proceeds can make important decisions after the insured has passed . |
Who Has The Best Critical Illness Insurance? | There are a lot of great companies out there when it comes to Critical Illness . Here are a few things you need to pay attention to . The first is the companies rating . This will help you determine the companies financial strength and the ability to pay claims . The second is know the features of the plan . Not all Critical Illness plans have the same benefits . Some offer a return of premium less any benefits paid , some have hospital indemnity and accident riders , and some have a larger scope of coverage for types of illnesses . A few of my favorite companies are Mutual of Omaha , Assurant Health , American General , and MetLife . Each company offers unique features and price points , but these are just a few that are out there . The last factor that needs to be taken into consideration is underwriting . If you have had Critical Illness before most companies will not accept you . However there are a few that will . | Zytiga is the brand name for Abiraterone . Zytiga was approved by the FDA in 2011 and NICE -LRB- National Institute for Clinical Excellence -RRB- in 2012 . Zytiga is available but has not been proved to be cost effective . Based on the research I have done , it does not appear that Zytiga is approved by Medicare which means it would not be approved by Medicare Part D . |
How Do I Know What Health Insurance Is Right For Me? | In all honesty the best way to evaluate your options is through consulting with a knowledgable insurance broker . There are many different structuring options and a great deal of technical details that can be navigated by a consumer however I would relate such a undertaking with representing oneself in a court of law , or self-diagnosing/treating ones medical issues . That being said one can gain valuable insights by factoring in ones history of medical expenses over a several year time line , ones potential exposure level to unforeseen medical events , this should help you benchmark the minimum level of coverage . One should then do a basic cost-benefit analysis -LRB- factoring in the historical information the cost of the desired coverage and ones income -RRB- to eliminate options that would be to expensive or that would not be effective risk management tools . | Under the new Affordable Care Act you will have an Open Enrollment period that will las t from October until March of 2014 during which time you will eed to select a health insurance policy . Failure to do so will result in a tax penalty and will be deducted from any refund or increase the amount of tax you will have to pay . It is not a criminal offense and a fine is not involved unless of course you refuse to pay your tax . |
Will Annuity Rates Go Up? | Annuity Rates are directly tied to the Fed Funds Rate & to 10 Year Treasury Rates . Both of these are at historical lows at the moment . Most financial experts claim that interest rates should rise over the next 5 years . If this happens , Annuity Rates will rise as along with them . | Good Question . It will depend on many factors including ; Year Built , Construction Type , Square Feet of Living Area , Roof Type , Updates to Plumbing , Heating , Electrical , & Roof , Pets , Pool & Credit history of the buyer . You cover the home for what it will cost to rebuild . The mortgage company will require this as well . On the appraisal it will list how much the appraiser feels it would cost . This is usually based on the GLA , or gross living area , of the home and the quality of construction . Also the area you live in will impact the rate as well . If you live in Florida you are more prone to hurricanes . If you live in California you are more prone to earthquakes . My suggestion would be to contact your local independent agent to get the best rate . As a very very rough idea it costs about $ 450 per $ 100,000 of building coverage on Long Island , NY . Hope this answer helps . |
Will Annuity Rates Go Up? | It will all depend . Any vehicle that pays you an interest rate is tied to a certain index . The interest rate will change according to that index . Annuities set their rates based on what Insurance companies feel is a reasonable rate of return based on their investment portfolio . These rates are typically fixed for a certain period of time and traditionally have been better than what banks and CD 's have been able to offer . When shopping for an annuity to purchase check out the Insurance companies you wish to invest in and make a purchase based on what you like about the company and their investment strategies . | All carriers renters policies are about the same and nearly the same rate . The policy on average is around $ 100 a years or $ 10 to $ 15 a month . They key is to make sure that you have your contents valued correctly and your Liability limits at a minimum of $ 100,000 and Medical pay at a minimum of 5,000 The best option would be to see if the carrier that you insure your auto with offers the coverage as many times it will lower your auto insurance with two policies with the same carrier many times it lowers your auto insurance just as much as the renters insurance cost so it is almost like getting the renters policy free . |
What Happens When I Cancel My Whole Life Insurance? | I ca n't imagine why you would want to just cancel your Whole Life insurance policy ! You know that you have the option of replacing your current policy with another policy and have all the value of the current policy transferred to the new policy ? However as you asked what happens when you cancel a whole life policy - what happens is you no longer have the insurance . If the policy has grown sufficient cash value to cover the surrender fees and have an excess , you should be able to receive the remaining cash value at the time of cancellation . You really should talk with a qualified Insurance Adviser and find out what your options are and then decide how to proceed . | Medicare Prescription Drug Plans -LRB- also known as PDP or Part D -RRB- offer various levels of coverage before and after your deductible is met . While coverage varies from policy to policy , with most plans , afteryou and your plan have spent $ 2,850 on covered medications the combined amount plus your deductible -RRB- , you fall in to the coverage gap , or donut hole . This means there 's a temporary limit on what the drug plan will cover for drugs.Not everyone will enter the coverage gap , but for those that do , you will pay 47.5 % of the plan 's cost for brand-named drugs , and 28 % of the cost for generic drugs . |
What Happens When I Cancel My Whole Life Insurance? | When you cancel your Whole Life insurance you are given the option to take the cash value that has accumulated , or to turn your policy into a reduced paid up policy . If you choose the latter , you will not owe any more premiums but will still have some life insurance coverage . | The primary coverage is for loss of your personal property due to the covered perils such as fire , water , wind , hail , theft , lightning , smoke , explosion , vandalism and so on . The standard deductible is the $ 500 minimum , after which covered claims are paid out . The second part of your policy is for medical payments and personal liability coverage . If any of your guests should be injured on your property , they would receive up to the coverage limit for medical payments coverage . Personal liability is usually a $ 100,000 minimum and can be increased . Liability arising through the use of your residence -LRB- such as a water leaking and causing damage to an adjacent unit -RRB- or other personal liability claims against yourself would be covered and would help provide you with the monetary means in the event of a lawsuit , as well as legal defense . You also have loss of use coverage that would cover the accommodation and relocation expenses of living elsewhere if your residence becomes uninhabitable due to a covered claim such as smoke or fire damage to your unit . |
What Is Term UL Life Insurance? | Term UL is a hybrid of Term and Universal Life Insurance . Some liken it to UL with a secondary guarantee , while other contend that they are different in many ways . The main differences that consumers will notice is that Term UL is offered at older ages , and for longer `` terms '' than traditional Term Life Insurance . While shoppers might be able to find similar Universal Life policies with secondary guarantees , it is easier to compare Term UL with other Term products , and thus , they are popular among some age groups . Another difference is that Term UL usually automatically converts to regular UL at the end of the `` term '' . | Since you are asking this in the critical illness section I will assume you have health insurance . Your major medical health insurance plan will pay the bulk of your medical bills but you will still be personally responsible for your out of pocket costs including copay 's , deductibles , coinsurance and so forth . |
Where Can I Cash My Deceased Mother's Life Insurance Policy Check? | You should be able to cash your mother 's life insurance check at your own bank , or possibly the bank that issued the check . The bank may choose to just give you $ 100 and hold onto the check until it has cleared before giving you the remainder of the death benefit . | No , Medicare is not considered welfare . When most people are talking about welfare , they are talking about food stamps , Medicaid , unemployment benefits , housing assistance , child care assistance , etc. . Medicare recipients have paid Social Security taxes for at least 10 years in order to receive health care coverage through Medicare . |
When Is Variable Universal Life Insurance A Good Idea? | Variable universal life -LRB- VUL -RRB- is a security and like all securities has the potential to lose money . In general terms VUL can be an income consideration if the potential buyer is in a high tax bracket and has a risk tolerance tolerance with a long term view of the financial results . | Here is something I present to my clients when we come across this issue : With a monthly premium of $ 200 , and with an annual benefit of $ 48000 , with the benefit inflating annually by 3 % , we get these numbers : Two years of premiums in , the benefits paid out will equal that amount in two months ! Five years of premiums will be matched by three months of benefits paid out , with 10 years of premiums being paid back in five months of benefits . 20 years of premiums come back to you in a manner of 7 months of benefits paid out . So , in a nutshell ... should you need long-term care , and there is some data suggesting that you might , having some protection in the form of such a policy will give you options on where to go as well as provide a safety net for your assets that you worked so hard to amass at that point . |
Can I Get Life Insurance If I Use Medical Marijuana? | You can easily get life insurance coverage but most companies will classify the premiums as a smoker . There are however more than few companies that will provide non smoker rates based on frequency . In order to work with the carrier to get the non smoker rates it is important to have your marijuana legally prescribed . | That is a great question ! There are basically two types of life insurance , Term , and Whole Life . Term insurance lasts only for the duration of the stated number of years in the term , and this type of policy has no buildup of cash . The other type , Whole Life , lasts as long as you do , and over time , builds up a cash value that can be withdrawn as a loan . If you would like more information , please feel free to contact me , I 'm happy to help . Thanks for asking ! |
Can I Get Life Insurance If I Use Medical Marijuana? | Absolutely you can implement life insurance as a medical marijuana user ! Medical marijuana may be used in a variety of ways . If you do in fact smoke it , you may well get a `` smoker '' rating , which is n't all that big of a deal in terms of premium pricing . It is a higher priced rating that non-smoker , but not a huge difference . If you ingest the buds or the oils then the smoker rating wo n't apply ... unless of course you use tobacco . | All that is necessary to give you the best recommendation is to know the date that you will die . With that information we can provide you with the best policy . Since only a few of us know when that will occur it is important to know when our responsibilities will end . When will our death not make any difference to anyone ? That doesnt seem practical either . Other than the need to provide a lender protection for a certain period of time , the permanent policy seems the best alternative . |
Can I Get Life Insurance If I Use Medical Marijuana? | Yes , you can get life insurance if you use medical marijuana . If you are purchasing a medically underwritten policy -LRB- one that requires an exam and medical records -RRB- , the reason for needing the medical marijuana will enter into your rating and price . You will also most likely be charged smoker rates . | Every year since 2008 Medicare has paid out more in benefits than it has in the trust fund . Last year the deficit exceeded $ 2 trillion -LRB- expenditures vs revenue -RRB- . Some sources say the Medicare trust fund will be depleted by 2024 while others say it will happen by 2016 . This ca n't continue . |
What'S Medicare And Medicaid? | Very good question ! Medicaid is medical coverage provided by the government for people who can not afford it and they fall into the income bracket that the government has chosen . Medicare is provided by social security for the elderly or retired and you are eligible when you turn 65 years of age . | Direct Line is handed in Europe and morespecifically , Great Britain . Here in the United States , there are many major car insurance companies that offer affordable coverage . You can easily shop and compare different rates through experienced brokers . Just like the famous saying says ... We shop and you save ! And it 's true ! |
Where Can I Buy Renters Insurance? | Any carrier or agent in your area that handles homeowners insurance will possibly also carry renters insurance . If you have an agent or carrier that you currently have other insurance coverage with check with them first as you may receivingdiscount on each of the policies that you have with them by having more than one policy with them . | Life insurance can be used to pay for your funeral or for any other purpose for which your beneficiary uses it . If you purchase a life insurance to fund your final expenses , leave the death benefit to a beneficiary who knows your wishes , or you can even leave it directly to the funeral home . |
Where Can I Buy Renters Insurance? | Most insurance professionals wh specialize in meeting the insurance needs of individuals and families should be able to help you find and secure Renters Insurance . Talk with your licensed professional agent about the coverage options available and be sure to ask about the advantages of `` bundling '' your renters , car insurance and life insurance ot take advantage of discount offers and build a solid and custom insurance solution to meet your particular needs . | Life insurance has tow basic policy types : term and permanent : They both provide death benefit coverage for certain time periods , even for life . Cash Value permanent life insurance accumulates tax deferred and has four crediting methods : dividends , interest rate , indexed and separate sub accounts using equity and bond investments , which can lose money . |
How Much Is Family Health Insurance? | Family health insurance with an effective date of 1/1/2014 will be available on the Silver , Bronze , Platinum , and Gold policies on your State or Federal exchange . The costs will vary depending on how much deductible you choose and your age and the age of your spouse and the age of the children Can you get on www.healthcare.gov ? If so , you should be able to get a quote . If you prefer you can still get health insurance policies from companies like Humana or United Health care and you can just call their customer service number to get a quote | An annuity is backed by the assets of a life insurance company . The life insurance company is supervised by the insurance commissioner in the state where they are domiciled . In most cases there are provisions to make sure that all promises are kept to policyholders that involve other insurance companies as well . Then the insurance commissioner in your state supervises the same annuity to make sure you receive what has been promised . |
What's Covered Under Homeowners Insurance? | Riot , explosion , vandilism , smoke , hail , aircraft , wind , and fire are the main things typically covered by a homeowners insurance policy . Please read your policy completely to know what is covered and what may be excluded by the policy or contact your local agent to have them go over the policy with you . | The cost of life insurance in West Virginia is usually the same as in the rest of the United States . To get an actual quote for life insurance policies for residents of West Virginia , you can visit a website that offers instant quotes and input different ages , face amounts and term lengths . However , these quotes are for the healthiest people ; the cost of life insurance for persons with health problems can be much higher . Calling the website or a local agency is the best way to find out the cost of life insurance in West Virginia for you . |
Does Cobra Cover Disability Insurance? | The US Dept of Labor 's `` An Employee 's Guide to Health Benefits under COBRA The Consolidated Omnibus Budget Reconciliation Act of 1985 '' states the following : `` Life insurance is not considered ` medical care , ' nor are disability benefits ; and COBRA does not cover plans that provide only life insurance or disability benefits . '' Unfortunately , Disability Insurance is not covered by Cobra . | Each student 's needs should be assessed individually . The location of the college/university is particularlyrelevantif a student remains on a parent plan . Pay close attention to network coverage availability . In addition , theindividual ` shistory of medical needs would be an important consideration if ongoing physician visits and orprescriptioncoverage is necessary . Finally , how would the school offered coverage stack up against any options available through the parent 's plan . |
Does Cobra Cover Disability Insurance? | Does Cobra cover disability insurance ? No , at this time Cobra continuance options do not include disability insurance . You may check with the disability carrier to see if you can continue the policy on an individual basis . Some plans allow for this , some plans do n't . It is important to read through your benefit booklets to see what is offered up to you upon separation of employment . Some things you can take with , some things you ca n't . | If the person who passed away was the one with the debt , creditors generally can not take the life insurance proceeds left as long as the beneficiary was a person . The money then belongs to that beneficiary , and as long as creditors do not have a claim against the beneficiary , they can not take life insurance proceeds from them . |
Why Do Annuities Have A Bad Reputation? | An annuity provides something that no other financial product offers , a lifetime of income payments . Some planners think that they can do the same thing and will run projections to your age expectancy and predict a percentage of chance that the plan will work . They get a great deal in fees and commissions but criticize annuities because they hope to provide a higher monthly payout , however there arent any guarantees and what about living past your life expectance , half of the population does . | Great Question . Progressive as a company in most states does not offer home insurance . Insted they have a contract with other companies that offer home insurance for there auto customers . I would look at other companies that can combine your home and auto with and get a good discount for that . |
Why Do Annuities Have A Bad Reputation? | Why do annuities have such a bad reputation ? Think of it in the same way people view certain breeds of dogs . Is it the dog that is truly bad or the owner who 's made it that way ? Annuities are a fine product that can work very well for most people with a variety of needs . Where problems occur is when the details inside the annuity are n't explained clearly and the fit is n't really right for the customer . | If your income is not needed to pay bills , or contribute to the quality of living , or to attain the financial goals of your family , then you may not need Disability Income Insurance . If your income is needed for any of those purposes , then you most likely have a need for Disability Insurance . |
Why Do Annuities Have A Bad Reputation? | Annuities have a bad reputation from persons that may not fully comprehend the advantages of owning an annuity . Also , some of these `` experts '' are compensated indirectly -LRB- or directly -RRB- by entities that compete against annuities . Hmmm . That 's a bit odd ! Regardless ... make up your own mind by consulting with an experienced financial planner with no bias . | You can use Group Short Term Disability Insurance for maternity leave . This is only available though employers who offer it . Some states mandate that employers offer Group Short Term Disability , but most do not mandate it . Unfortunately , private Short Term Disability can only be used for complications of pregnancy . Long Term Disability does pick up when complications cause loss of work beyond the policy 's elimination period . |
Why Do Annuities Have A Bad Reputation? | That is an excellent question ! As with most things , you have to look at them carefully , and see how they are best meant to be used . In most cases , the people that will talk the worst about that thing will have either misunderstood it , or not used it correctly . Because it did n't do as they expected , they talk bad about it , and give it a bad reputation . Annuities are a complex investment vehicle , and are not the best investment for everyone . Many people have learned this the wrong way , either because they did not understand what they were purchasing , or because it was not clearly explained to them . Some folks will disparage another form of investment if what they are trying to sell you pays them a salary , or a commission . It 's along the lines of the question '' Ever wonder why your stock broker/mutual fund manager drives a better car than you do , if he 's working with your money '' ? Annuities can be excellent retirement vehicles if they are the right vehicle for you . They can be very safe , and can provide a secure source of income . So if there is a bad reputation to them , it derives from being misinformed , or misused , and not because of the product itself . I hope that helps , thanks for asking ! | Qualified retirement plans like 401 -LRB- k -RRB- s -LRB- under ERISA -RRB- may use tax deferred annuities as a funding product . Using tax deferred annuities in a qualified plan subjects the annuity to the rules of RMD distribution and the re-characterization of basis as taxable as ordinary income at the plan participants effective tax bracket rate . |
Why Do Annuities Have A Bad Reputation? | In addition to Ed Harris comment on this , there has also been a few bad agents who have sold inappropriate annuities to individuals . That is why laws have been set up to make sure that an annuity is suitable for the individual . When you purchase an annuity you must fill out a suitability form . If the company see 's that the annuity is not suitable they will not issue the annuity . | There is some variance when it comes to specific details by generally yes they can as long as the parent maintains ownership interest in the automobile that is covered under the policy . The parent should be well advised of the fact that claims experience does effect rates with most carriers and as such claims made by adult children -- even if they are no longer included in a parent 's policy -- can affect future premiums for the parent . |
Can Married Children Stay On Parents Auto Insurance? | Generally married children can not be on the parents policy . What happens if you try to hide this `` material fact '' and you have an accident and now you need to file a claim ? Usually if you are on your `` parents '' policy the parent is the `` primary '' driver and you are a child that just drives your parents car sporadically . If you or your spouse have a vehicle and you have the car financed in your name and your parents are not on the note-can you say Red Flag ? | Life insurance can not be tax deductible or written off . However that being said , it can be inserted in some tax deductible qualified plan contributions . The annual contributions allow 49.5 % participating whole life or 25 % universal life . There is a economic benefit tax on the death benefit which is relatively small . |
Can Married Children Stay On Parents Auto Insurance? | There is some variance when it comes to specific details by generally yes they can as long as the parent maintains ownership interest in the automobile that is covered under the policy . The parent should be well advised of the fact that claims experience does effect rates with most carriers and as such claims made by adult children -- even if they are no longer included in a parent 's policy -- can affect future premiums for the parent . | That is a great question ! I 'm assuming that you mean in relation to purchasing a cheaper term life policy ? The best reason is that while term life policies statistically pay out very few times compared to whole life policies . Everyone dies , and a whole life policy pays out when you do , no matter the age . To get paid on a term policy , you have to pass during that term . Another reason for whole life is that if you get into a bind , and need some quick money , you can borrow from your policy . You can not do that from a term policy . There are typically easier underwriting standards on whole life policies also , making them surer bets to get . I hope that helps , thanks for asking ! |
What Does Medicare Gap Insurance Cover? | In addition to what Bob has said , I would recommend picking up the excellent government booklet named Choosing a Medgap Policy . You can download it free from the Medicare website or order a paper copy free . Your Medicare Insurance broker can supply you with free copies of these as well . The chart on page 11 -LRB- of the 2012 version -RRB- makes it easier to understand what each Medicare Supplement Plan covers . The hardest thing for most people to accept at first is that the Lettered Plan is what makes the difference in your coverage NOT the brand of the insurance company you buy it from . People start out thinking that AARP 's plan is different from Gerber 's plan or Aetna 's plan . It 's hard for them to accept that the brand makes no difference . It 's the lettered plan that makes the difference . Once you choose which lettered plan you want , then you shop the different companies prices on the plan you choose . Your insurance broker should be able to show you the rates for all the companies that you want to consider . | If you are turning 65 - you can enroll up to 3 months prior to your 65th birthday with the effective date of plan being effective the first of the month - of your birth month . If you enroll a bit after -LRB- you have up to 3 months after birth month to enroll with a guarantee issue -RRB- then it would be effective the first of the month following your enrollment . So let 's say your birthday is in May : You can sign up for Medicare A & B , and your additional plan -LRB- s -RRB- Feb , March , April , May , June July and August . After that you are no longer guarantee issue and would need to wait till another enrollment period . NOW , if you are working full time and retire , this gives you yet another guarantee issue enrollment period at the month of retirement . -LRB- You still want to enroll in Medicare A & B up to 3 months before retirement - and then the additional plan -LRB- s -RRB- about 1-2 months before that start date of Medicare A & B. -RRB- If you are already enrolled in Medicare and would like to change your RX plan for 2015 then during the `` Annual Enrollment '' period , which is Oct 15th - Dec 7th 2014 - with an effective date of Jan 1 2015 , then you would want to make sure to meet with your agent during this time period . Make sure you , or they , run your RX list through a comparison tool - such as Medicare.gov - to see which of the many plans may best fit your needs . Anyone enrolled in a Medicare Advantage plan or a Supplement along with an RX plan will want to review your Advantage plan or your RX plan every year during this `` Annual Enrollment '' period as plans change and your prescriptions may have changed . Always search for what may fit your needs best . If you have a Supplement plan - you typically do not ever change this plan for another - there are exceptions . Hope that clarifies . Belinda myseniorventure.com/answers |
What Does Medicare Gap Insurance Cover? | Medicare gap insurance , Medicare supplement insurance , Medigap ... all the same . Like Kleenex and tissue , the terms are interchangeable . Medigap plan F is the easiest to explain . It covers everything approved by Medicare Part A and Part B but not paid by Medicare . Plan F covers deductibles , copay 's , coinsurance . Other plans -LRB- A - N -RRB- cover something less than F but most are comprehensive . Plan F is the most popular , purchased by about half of those who buy Medicare supplement plans . Plan G is next followed by plan N . The other plans are considerably less popular . | As Ms. Harvelle put it , the requirements in terms of hours can vary state by state . Google it , be sure to include `` for X state '' in your query , then try and walk through what the website says . I put it this way because in many cases the department of licensing or labor websites for states can be pretty dry reading . So take a peek there , but just know that normally you have to hit a certain number of verifiable hours of study , then take and pass the test , then apply and pay for the license . Also , there are some states that will recognize the work you put into another state 's licensing program , and will offer to mirror your license in their own state , for a nominal fee . That way , you can be licensed to sell life insurance in more than one state but can potentially avoid having to go through the entire process more than once . |
Can A Business Deduct Life Insurance Premiums? | Life insurance is not deductible.That being said , life insurance can be part of the annual contribution in some tax deductible qualified defined contribution plans . Participating whole life can be up to 49.5 % and universal life can be up to 25 % of the annual contribution . There will be an economic benefit tax because of the death benefit itself is an extra item beyond the accumulating cash values . | Yes , No and Maybe . Now , are we all clear on that ? The simple version of things is that failure to comply with the individual mandate will trigger a penalty for an adult of $ 95 or 1 % of Adjusted Gross Income -LRB- whichever is greater -RRB- . And , if the average citizen knows anything at all about ObamaCare then this is probably the piece they know about . As with so many aspects of ObamaCare , when one gets down into the details the picture gets less clear . First , there were certain groups excluded from ObamaCare and the individual mandate from the law 's very beginning -LRB- members of certain faiths such as the Amish , people enrolled in health care sharing ministries and Native Americans are prominent examples -RRB- . You are also exempted from the individual mandate penalty if the lowest cost marketplace option in your area is more than 8 % of your family income or you fall below the tax filing threshold . As the law has continued to `` evolve '' there has been a new class of exemptions granted by the IRS for `` hardship '' exemptions . This IRS form provides 14 different hardship exemptions a taxpayer can claim to avoid paying the individual mandate penalty . Some are rather narrowly constructed and have an obvious logic to them , the exemption for being homeless for example . Others , are worded in ways that can leave a lot of room for creativity . Some of my favorite hardship exemptions are ; 1 -RRB- You received a shut off notice from your utility company . -LRB- So , do n't pay your gas bill for a couple of months , get a shutoff notice then pay your bill , and you qualify for a health penalty waiver - can anybody foresee lots of people having `` cash flow '' problems on their utility bills in the years to come ? -RRB- 2 -RRB- You experienced the death of a close family member . -LRB- Yep , that 's it . Does n't really define the time line , what `` experienced '' truly means , what does `` close '' mean and how far out on the family tree can you go and still say someone was a family member . The potential for creativity in this area is hilarious to anticipate . -RRB- 4 -RRB- Your individual plan is cancelled and you believe other marketplace plans are unaffordable . -LRB- When it comes to belief , do any of us really believe that health insurance is affordable ? What is my belief predicated on ? Will my belief be viewed differently if I am a Tea Party donor or a supporter of the Occupy movement ? -RRB- 5 -RRB- You experienced another hardship in obtaining health insurance . -LRB- I agree that brevity is the soul of wit but this may take things to the extreme . What 's a hardship to one person is an inconvenience to another . Dust off your creative writing skills , I can foresee lots of tales of woe about losing your dog of 15 years -LRB- hey , the dog meant more to me than some close relatives -RRB- , that you only have dial-up internet , why the mind runs wild with the possibilities ! So , will you be penalized on your 2014 taxes in 2015 if you do n't have acceptable health insurance . Technically , yes . In practical terms , many people will be able to claim an exemption and that will significantly dilute the anticipated revenue stream -LRB- and the government has already included individual mandate tax penalties in its cost projections for ObamaCare -RRB- from and the practical effect of the individual mandate on people 's behavior . In many ways you will have to be almost actively seeking out the opportunity to pay the tax penalty or be in that place in life where you are getting by financially without a health insurance payment and not much of anything that could smack of a hardship occurs in your life . For a lot of other people , some life circumstances during many years of their lives will let them take a pass on the penalty . You can bet the tax preparation services are going to be going great guns on this , they 've already started trying to help people enroll . It 's only logical to extend that to making sure every hardship their client is entitled to is reported . |
Does Insurance Cover A Home Health Aide? | Medicare and most health insurance plans will not cover a home health aid . There are government benefits available for veterans that may provide some funds to help pay for aid if you qualify . Some states have Medicaid waiver programs that could help . A good elder law attorney or financial planner who specializes in Medicaid and other benefit planning may be able to help you qualify for these benefits and protect your assets . | According to the Bureau of Labor Statistics -LRB- BLS -RRB- in 2010 , which is the most updated information presently available , there were 411,500 insurance agents in the United States . The Bureau projects that over the next 10 year period , employment of insurance agents will grow at about 22 % , which is faster than average for other industries . |
How Are Group Health Insurance Rates Determined? | Health insurance issuers -LRB- i.e. , licensed entities -RRB- in the individual and small group markets must consider all enrollees in all non-grandfathered health plans issued in a particular state to be members of a single risk pool when developing rates and premiums for plan years -LRB- in the individual market , policy years -RRB- effective on or after Jan. 1 , 2014 . Each issuer must have one individual market pool and one small group market pool in each applicable state . States may choose to require issuers merge these pools . The final rule also requires : Each issuer in a state will have an index rate for each of the individual and small group pools for each plan year -LRB- policy year , in the individual market -RRB- . The index rate is based on the total combined claims costs for providing essential health benefits within the single risk pool . If there is not enough claims data available , issuers may use any reasonable source of claims data , including claims from grandfathered business . There may be market-wide adjustments for risk adjustment and reinsurance programs as well as Exchange user fees . Premium rates for a particular plan may vary from the market-wide index rate only by several enumerated factors . For example , issuers may modify the market-wide index rate at the individual plan level to adjust for administrative costs -LRB- other than Exchange user fees -RRB- , so long as actuarially justified . Plan-specific adjustments to the market-wide index rate must not reflect differences in health status or risk selection . Issuers are expected to use pooled allowable claims data as a basis for calculating the plan-specific actuarial value instead of using the HHS actuarial value calculator . Fair Health Insurance Premiums -LRB- applies to non-grandfathered plans -RRB- - Health insurance issuers may vary the premium rate charged to a specific non-grandfathered individual or small group from the rate established for that particular plan only based on the following factors : family size -LRB- individual or family -RRB- , geography -LRB- rating area -RRB- , age -LRB- within a ratio of 3:1 for adults -RRB- and tobacco use -LRB- within a ratio of 1.5:1 -RRB- . | Nebraska does not charge income tax on life insurance benefits except in very limited circumstances . If the life insurance proceeds are left to the estate as opposed to a person , the life insurance benefits can be taxed . There may be taxes on benefits that are above the face amount of the policy . Also , estate taxes can be paid on the excess of what is exempt from estate taxes , which is 5.25 million dollars in 2013 . |
What Is Good Health Insurance For Pregnant Women? | I am glad that this question was asked . Now that the Affordable Care Act is in force you will be able to buy individual insurance that will cover maternity even if you are already pregnant . Prior to Jan. 1 , 2014 it was virtually impossible to find an individual policy to cover that . It was mostly found in a Group Health Insurance Plan from your employer . As long as you stick with one of the major insurance companies you will be fine . I would shop around and find the plan that makes sense to you but no matter who you but it from as long as it is a qualified health plan then the policy has to cover the 10 essential health care requirements . All you must figure out is deductible and coinsurance . If you pay a higher premium per month then you will have low or no deductibles , If you want a lower monthly payment then you may have higher copay 's and deductibles at the time of service . | If you 're applying for life insurance with a medical exam , one of the items they test for in the urine test is nicotine . If the presence of nicotine is there , whatever risk class they approve you at will also be based on tobacco user rates . However , there are a couple of carriers that will consider a non-smoker risk class for individuals who only use cigars and/or chewing tobacco . Please note , even if you buy a non-medical policy and lie on the application about your tobacco usage , if you die in the first 2 years of the policy -LRB- the contestability period -RRB- , and the insurance company discovers that you intentionally misrepresented the information cited on the application , they can refuse to pay out the death benefit to the policy 's beneficiary and only give them the premiums that were paid into the policy . I hope the information is helpful - please feel free to contact me for assistance with your coverage and if you have any further questions . Thanks very much . |
Does Homeowners Insurance Cover Damaged Jewelry? | Damage to jewelry typically would not be covered under a homeonwers policy . Lost or stolen jewelry is a coverage that is provided under most homeowners policies with specific limitations . Please read your policy completely to understand the coverage that is provided and any exclusions that may be contained within the policy or contact your local agent to have them go over the policy with you . | There are two key values to a life insurance policy : its death benefit and its cash value . The death benefit is the amount the policy pays as a lump sum -LRB- generally income tax free -RRB- when the life insured dies . The cash value is what the policy is `` worth '' to the owner during life . Term life insurance has no cash value while permanent policies are a current asset . The cash value of a policy can be accessed during life if necessary through withdrawing some of the money as cash or taking a policy loan . Or , the policy could be canceled for the cash surrender value - the total value of the asset . At this point , the death benefit amount is canceled . |
Does Life Insurance Pay For Funeral? | The death benefit proceeds from life insurance are paid to the beneficiaries of the policy . The beneficiaries , unless otherwise directed , can spend the proceeds as they see fit . Generally final expenses like funeral costs fall upon the family , i.e. commonly the beneficiaries . Most beneficiaries pay outstanding debt , the number one use of life insurance death benefit proceeds . | As soon as possible , the greatest asset you have is time , and it takes time for money to build . If you add earning a rate of return on your money and have that money compound over the years than your money can grow to a huge lump sum . What you want to do is find the right savings vehicle that will give you the best return . How about a tax free retirement ? Are you familiar with tax deferred ? How about avoiding penalties if you take an early withdrawal . There are many things to consider but the earlier you start the greater chance you have of saving a lot of money for retirement . |
Does Life Insurance Pay For Funeral? | Yes , Life Insurance pays for funeral bills and any other expenses associated with final expense needs . The funeral life insurance policy can be purchased for any face amount with a relative or friend as the beneficiary , plus a collateral assignment to the funeral home . That way the funeral home will get what they are owed with the remainder going to your beneficiary . Having Life Insurance for funeral needs is handy because it not only can cover the funeral , but cemetery , transportation for special guests to get to the funeral , and other costs that are incurred upon death . In fact , the remainder of the death benefit can be used for anything at all that the beneficiary chooses to spend it on . | Yes , it is possible that some people with stents are still able to get disability insurance ; however , they are almost certainly going to receive a cardio-vascular exclusion . The only company I personally know of that will quote someone with a stent is Petersen International -LRB- Lloyds of London -RRB- , but theyd still need to make sure there arent other serious health issues , and , of course , this is all under the assumption that you only have one stent . |
Does Medicare Automatically Start At Age 65? | If you receive Social Security benefits at age 65 , Medicare automatically starts at age 65 . Medicare will automatically enroll you in Part A and Part B . If you are not yet receiving Social Security benefits , you can start still start receiving Medicare Part A and B , or you can keep Part A and opt out of Part B until your group coverage ends . | Leasing is a modified form of purchasing an automobile . Normally auto insurance companies charge the same for automobiles owned or leased . The interests are similar and the exposures are the same . The only difference is that the lease company must be named in the policy to protect their interests . |
What Does Auto Insurance Provide? | That really depends on the type of policy that you have and the endorsements that you have with it . Auto insurance typically at minimum protects you from some financial hardship in case of an accident . If you have liability only coverage this provides coverage to pay for injuries sustained by persons in the other vehicle and coverage for property damaged in the accident up to the limits carried . Full coverage typically includes collision coverage which provides for payment of damage to your vehicle in an accident up to limits carried and other than collision that provides for vandalism , theft , and other things listed within the policy up to the coverage limits . Always remember every policy is different . Read your policy over fully to determine what is covered and how or contact your local agent to go over the coverage of your policy . | There are Long Term Care products combined with Life Insurance that make sense because if you do n't loose them and perish your beneficiary receives a death benefit ... so it 's not use it or loose it LTC insurance . Unlike traditional Long Term Care -LRB- LTC -RRB- with a life insurance plan your premiums do not go up ... they stay the same . Some plans allow you to have an immediate family member as the caregiver and they would receive the LTC funds . Funds can also be used for home modifications . Did you know that 70 % of claims are for Home Health Care ... not Medical Facility Care ? People want to stay in their own home as long as they can before being moved to a medical home this Life Insurance Long Term Care is a great option . This particular plan I mentioned above does not require you to submit bills . It pays out a specified amount each month regardless of your expenses . This plan is a single lump sum pay , 6 year pay or 10 year pay so you wo n't be stuck paying for life . Also , funds received can be above the allowed HIPPA Cap . Let me know if you would like more information on this Life Insurance Long Term Care plan ... or would like to see rates for your specific age . |
How Does A Medigap Policy Differe From A Long Term Care Policy? | A Medigap policy , also known as a Medicare Supplement policy is exactly that . It pays for many of the bills left over after Medicare has paid their share . However , they do n't normally pay anything if Medicare does n't pay first . Some Medigap plans also have some long term care benefits added . You should check with an insurance broker for your state to see what is offered where you are . Medicare only pays for a certain number of days in long-term care . Once those days are up , you are responsible for the rest of the bills . Long term care insurance is used to pay for this sort of situation . Normally , it will start paying a set number of days after you begin to need long term care , and continues until you have used up the money in the plan . Medicare and Medigap pay for the first part of your long term care , then LTC insurance takes over . | Gap coverage is an option you can select when buying a new car . It is usually only offered until the vehicle is 1-2 years old with most companies . It 's helps protect you from depreciation -LRB- being upside down on a car loan -RRB- if there is a total loss to the vehicle while it is still fairly new . You need to look closely at the terms of gap coverage , as they vary from one company to the next . some companies will flat out buy you a new car of the same value . others will increase the total loss value of the vehicle -LRB- usually 25 % -RRB- . |
What Is Critical Illness Life Insurance? | Critical Illness Insurance is a policy that will pay you a lump sum of money if you are diagnosed with a serious health condition . Some of the conditions that may be covered are stroke , advanced cancer , heart attack , MS , and Alzheimer 's . Some life insurance policies with living benefits will allow you to take out some of the death benefit in cash , so that you can combine your life insurance and critical insurance into one policy . | Health insurance functions relatively easily . The consumer pays premiums for a specified -LRB- in writing -RRB- set of benefits . When the insured -LRB- individual or family -RRB- incurs medical expenses , if they are covered , treatment is given by a provider -LRB- usually in a Network -RRB- and eventually a claim is submitted . An insurance company determines what amount should be paid -LRB- remember ... a deductible may apply -RRB- , and pays the provider . The insured can apply for many levels of coverage depending upon their budget . An experienced broker is a great resource to contact or a reputable website where live quotes are often available . |
What Is Critical Illness Life Insurance? | It is life insurance that will only pay if someone dies of specifically listed critical illnesses , such as cancer . It is usually substantially overpriced , since for not much more , you can usually obtain life insurance which will cover death from any illness . You should consult with an experience life insurance agent , who can discuss with you all the options available to you . Gary Lane , Agent , New York Life . 949 797 2424 . Thank you . | Universal life is a flexible life insurance policy that can coverage your indemnification planning scenarios or can generate tax advantaged supplemental income for retirement . You pay your premium via the payment mode you select . The policy expenses are deducted from premiums paid -LRB- or cash values later on in the policy -RRB- , then the earnings from the crediting method are applied . Keep in mind that there are surrender charges , policy loan costs and two sets of rates : current company practice and contractual guarantees . The two sets of rates cover the cost of insurance , policy fee , admin charges and front end premium loads . |
What Is Critical Illness Life Insurance? | Just a guess , but it sounds like a life insurance policy with a critical illness rider . I would never suggest someone buy a life policy with a critical illness rider . There are so many drawbacks to this kind of arrangement , not the least of which is the tax treatment of the benefit . | Suze Orman is against Whole Life insurance because she feels that people can do better by buying Term Life insurance and investing the rest . Technically , it is true that certain stocks or other investments will give a far better return on one 's dollar . But when one considers the risk and taxation on those types of investments , plus the fact that a large amount of medical expenses or just lack of self control might deplete one 's savings in the later years , buying Whole Life insurance can make sense for some people . No cookie cutter approach fits everyone . |
When Are You Eligible For Medicare At What Age? | Assuming you are referring to Part A , you become eligible to enroll when you are three months shy of your 65th birthday . If you are under age 65 and have a qualified disability , you can also apply . If you have end-stage renal disease -LRB- ESRD -RRB- you can also apply for Medicare benefits . You automatically get Part A if you receive benefits from Social Security or the Railroad Retirement Board . Part B is optional and has similar qualification requirements . An experienced broker and / or their qualified website can offer additional specific information and free quotes from the top companies . | A company does n't have to offer a retirement plan . But employee recruitment and retention depends on the additional benefits offered . Many employers today try to offer defined contribution qualified plans like 401 -LRB- k -RRB- s as an inducement to hire on and stay with the company , especially when the employer matches contributions . |
When Are You Eligible For Medicare At What Age? | Most people will become eligible for Medicare at age 65 , but you can enroll at a later date without penalty if you are covered under an employers group health insurance plan . You still want to enroll in Part A when you turn 65 , but you should consider postponing Part B until your group health coverage expires . | Critical illness insurance can be a supplemental insurance to cover high medical insurance deductibles . But critical illness is worth looking into if your family has a history of hospitalization or a predisposition to disease or sickness . Many working seniors purchase critical illness as a defensive measure against unexpected medical bills that may not be covered under Medicare or their Medicare Supplement policies . |
What Does The Suffix On A Medicare Number Mean? | The suffixes on a Medicare number are codes that tell Medicare under whose Social Security number you are being given benefits , and your relationship to that person . It is called the Beneficiary Identification Code -LRB- BIC -RRB- . A Social Security number followed by A tells Medicare that the person filing is the retired or disabled worker who paid into the system and is drawing on his/her own Medicare benefits . B signifies the wife -LRB- over age 65 -RRB- of the primary Social Security number . To see what the entire list of suffixes visit this website : WEBSITELINK | Life insurance pays the proceeds upon loss of LIFE . The cause of death is irrelevant , except for a few conditions such as suicide during the first two years . AD&D insurance pays the proceeds for ACCIDENTAL DEATH & / or DISMEMBERMENT . Most death is caused by natural causes , which means that Life insurance policies pay out far more often then do AD&D policies . |
What Is FEGLI Life Insurance? | FEGLI life insurance is the life insurance provided to federal employees . FEGLI stands for Federal Employees Group Life Insurance . It is Term coverage equal to the salary of federal employees , rounded up to the next thousand , plus $ 2,000 . That is provided for free . Then there are three options from which to choose for additional coverage at group rates , paid by the employee . | It is possible that your auto policy will extend coverage onto a rental car while it temporarily replaces yours . Remember though that if you have an older car and are just carying liability , that will be the only coverage that transfers . You could therefore be financially exposed without also having Comprehensive and Collision -LRB- Physical Damage -RRB- coverage . Check with your insurance professional . Also , check the terms and conditions of your credit card . Many cards provide some limited coverage for a rental , usually up to $ 500.00 , which in many cases is enough to cover your own auto policy deductible . |
Can Car Insurance Rates Be Negotiated? | Not really , no . Insurance companies must file their rates and underwriting standards with your state 's Insurance Department . Once these are filed and approved , then the company must follow those guidelines and formulas when determining the rate they then offer you . Be sure that you are taking advantage of all the available discounts that your company offers in order to enjoy the best rate possible . | Auto insurance is an at will product . This means that you can cancel your policy at time that you wish . If you are looking to change carriers the agent that you are working with can normally assist you with the cancellation of your existing policy and the activation of the new one . |
Can Car Insurance Rates Be Negotiated? | That is a great question ! Not only can you , but you should ! It is never a bad idea to get competitors quotes , and see if your current company will match them , many will , especially if your driving record is good . You can also ask for discounts for multiple vehicles , policies , and drivers . You can also look into company discounts , AAA , or AARP discounts that may be available , if you only ask . Good luck , I hope you save a bundle ! Thanks for asking ! | Disability Insurance that is privately owned and paid for by the person owning the policy , is not tax deductible . However , if the person owning the policy would become disabled and receive Disability benefits through the policy , the income received would not be subject to federal income tax if the premiums were paid with after tax income . |
What Is Medicare Vs Medicare Advantage? | Medicare is a taxpayer funded health insurance plan -LRB- mostly -RRB- for people age 65 and older . Some people who are disabled and on Social Security can qualify for Medicare at younger ages . Medicare is a reimbursement medical program that does not have doctor or hospital networks . Medicare Advantage is a private health care system run by insurance carriers that sub-contract with Medicare to offer health insurance . Most Advantage plans have doctor and hospital networks and high out of pocket . They are great plans as long as you are healthy | Disability insurance is extremely important . The mantra is buy term and spend the difference on disability insurance . Anyone who earns a living and wants to protect their paycheck should get disability insurance . The statistical odds of becoming disabled during your working life are too great to ignore . The average disability period is 30 months ; the average emergency cash reserve is 90 days . And it is highly recommended that you also insurance your retirement contributions as well . |
What Is Medicare Vs Medicare Advantage? | Medicare is a federally structured health insurance program for a specific population segment . There are four different ` parts ' to Medicare ; Part A , Part B , Part C and Part D . In the simplest terms , Part A deals with inpatient costs and typically is provided without additional cost to the beneficiary . Part B deals with the costs related with doctors and typically has a premium related to it . Part D is prescription drug coverage that is administered through private health insurers under strict regulation and has premiums associated . Part C is the Medicare Advantage you ask about . This is an insurance product that is administered through private health insurers under strict regulations through Centers for Medicare and Medicaid Services -LRB- CMS -RRB- and covers the same expenses as Parts A and B . In order to qualify for Medicare Advantage , you must be enrolled in both Medicare Part A and B. Medicare Advantage does not replace your Part A and B , instead it administers your health care under the guidance of CMS . All Medicare Advantage plans are required to provide at a minimum the same coverage as Original Medicare -LRB- Part A and B -RRB- , but most plans offer additional benefits . Many Medicare Advantage plans also offer prescription drug coverage -LRB- Part D -RRB- , some do not . Some Medicare Advantage plans have zero premium , some have premiums . | If the amount of employer paid term life insurance is $ 50,000 or below , the value of the employer paid policyis not treated as taxable income to the employee . When the amounts of coverage exceed the $ 50,000 threshold then that excess amount will trigger a taxable income event for `` the economic value '' of policy above $ 50,000 . As policies of this level are commonly sold at the workplace , another consideration is whether your term life insurance was paid for on a pre-tax or after-tax basis under your group 's Section 125 Plan . Unlike with most other types of insurance premium , it is generally best for an employee to pay their term life premium -LRB- or any portion of it -RRB- on an `` after-tax '' basis . This can avoid taxes being taken out of the death benefit . |
How Does Someone Get Health Insurance? | That is a great question ! There are two good ways to apply for a health insurance policy . The best way is to go to the Affordable Care Act -LRB- Obamacare -RRB- site , WEBSITELINK and shop the plans there . I recommend doing this first , since the Act has a provision in it that allows for many people who qualify to receive discounts on the cost of the policy . These discounts may not be available through other online or private insurers , even for the same plans . The other route is to go to an agent who can help you find a policy that will work for you . Thanks for asking ! | The concept involved is , contemplation . The companies have adopted a fairly universal clause that will contest death by suicide during the first two years of the policy . The idea is that a person would not buy life insurance in contemplation of suicide two years later . Sometimes a person will buy a policy in contemplation of suicide and try to mask the suicide by staging an accident . Those cases can lead to litigation . |
How Does Someone Get Health Insurance? | You can get health insurance by applying for coverage online . The easiest and most affordable way is to enroll through an experienced broker . There are no fees and you 'll save time , frustration , and perhaps money since you 'll be able to receive expert advice and unbiased information . You may also qualify for the new federal subsidy that could potentially pay 100 % of your premium . Live answer to your question provided by : Ed Harris - Health insurance broker with 33 years of experience and a top-rated website . | The greatwestlife.com website says this about Travel Insurance : `` Our Global Medical Assistance group plan enhancement to your group healthcare plan is designed to provide worldwide assistance to travellers in emergency medical situations , wherever and whenever the need arises . '' It states that coverage is up to $ 1,000,000 per covered trip and that they rate the trip on a scale of 1-6 , with the option to cover trips that last up to 30 days . Visit their website for more accurate information and to contact Great-West Life . |
How Does Someone Get Health Insurance? | There are essentially 3 ways a person gets health insurance coverage of some type in our country ; 1 -RRB- Health insurance through an employer based group plan where you or a spouse work 2 -RRB- Individual major medical insurance , purchased either inside or outside of the government marketplaces 3 -RRB- Government Entitlement Programs such as Medicaid , Medicare and other state and/or Federal programs An experienced and knowledgeable insurance broker representing multiple insurance carriers can guide you through the system for the first 2 options . And , yes , you can go online and shop and buy health insurance and you might be great at that . However , most people are n't comfortable with the complexities of shopping their own health insurance and health care reform has made telling the differences between health insurance plans more difficult than ever . So , get some free personal help from a person who understands your needs and your market area . | Yes , life insurance can be used to pay off debt . Many people buy life insurance to pay off their mortgage , school loans , or other debt if they were to pass away before the debt was repaid . However , the beneficiary of a life insurance policy is free to use the death benefit for other purposes , as well . |
What Do I Need To Know About Medicare Open Enrollment? | Your Medicare Supplement open enrollment is actually a one-time 6-month period that starts the first month that you are age 65 -LRB- or older -RRB- AND enrolled in Medicare Part B . This period gives you guaranteed issue rights to buy any Medicare Supplement policy in your area with no health restrictions . The Medicare Advantage -LRB- Part C -RRB- and Medicare Drug Plans -LRB- Part D -RRB- have an annual open enrollment that starts October 1st each year . With this open enrollment period you can compare plans beginning on October 1st . You can make changes beginning on October 15th and ending on December 7th . The plan changes take effect on January 1st . | How do you get your 401k after leaving your job ? Usually you would contact your HR department and see what steps they may require for processing your account . What is important to the situation is what is your plan for those 401k monies . Are you going to roll them over into your new employers plan ? Are you going to roll them over into an individual IRA ? Are you going to convert them to a Roth IRA ? or are you going to take the tax hit and cash your retirement out ? |
What Do I Need To Know About Medicare Open Enrollment? | I assume you are referring to the annual enrollment that occurs in Oct , Nov and Dec of each year . Open enrollment is a time when those with Medicare Advantage Plans -LRB- MAPD -RRB- and Medicare Part D -LRB- drug plans -RRB- can make a change in their coverage . There are few restrictions and generally no medical underwriting . If you have ESRD you can not enroll in a new MAPD plan . If you have original Medicare and a supplement -LRB- Medigap -RRB- plan , you can change plans at any time provided you are in good health . Some states allow you to change Medigap plans on your birthday or plan anniversary , but most states allow you to make changes only through medical underwriting . | A life insurance policy is based on your representations . If you attempt to defraud a company , the company may take the case to the court to decide if they are liable to pay the death claim . One famous case involved a career criminal who applied for life insurance under his legal name . When he was murdered the company discovered that he was a famous gangster and the court agreed that he had attempted to defraud them . |
How Long Can Children Stay On Parents Health Insurance In Illinois? | Dependents are allowed to stay on the parents policy up to the age of 26 . After that , they must find their own policy which will shortly be attainable through the insurance marketplace . I would encourage you to work with a local agent regarding the marketplace as well as other options available . | In California insurance follows the automobile . All the drivers in the household are considered when determining the rate . If your son is no longer in the household he doesnt have to be included . If he is driving one of your cars , and the car is registered in your name or your are a co-registrant you should call your agent and get advice . This is particularly critical if he is operating your car in another state . |
How Long Can Children Stay On Parents Health Insurance In Illinois? | Your children can remain on your health insurance plan until age 26 . After that they would need to apply for their own plan . Good news is ! They are eligible to obtain coverage through the marketplace and qualify for the SEP -LRB- Special Enrollment Period -RRB- . Depending on their income , they may also qualify for tax credit 's as well ! | As a rule , if you buy a tax qualified long term care insurance policy -LRB- as nearly all are , these days -RRB- , and if you are paying the premium yourself , there are tax advantages you will receive . If you are self employed , the entire premium is tax deductible . If working somewhere but paying your own premium for an individual or group policy , you can deduct the premium as a medical expense under the same IRS rules as apply to all medical expenses . In both situations , you also receive the benefits from the policy tax free , if they are ever needed . |
How Do I Check If My Car Insurance Is Valid? | I not certain what you mean by valid but , I would first suggest looking at your insurance card that you keep in your wallet or car . This will show the effect dates of your coverage . If you do not have your insurance card then call your local agent to have them look up your coverage dates for you . | In most if not all states , insurance will be required in order to register your street bike . Off road or dirt bikes in many cases do not require registration but any motor vehicle including your bike , that is intended for use on public access roads and highways will need to be registered and insured . |
How Do I Check If My Car Insurance Is Valid? | The term `` valid '' might have a couple different meanings . The first might be whether or not your auto insurance policy is in force . Normally , if you have paid your premiums and you have not made any changes to your policy that would make you ineligible - your policy should be `` in-force '' . As previously stated , you need to check your insurance ID cards or policy delarations page to confirm the effective and expiration dates for your policy . The other situation where you might find the term `` valid '' is if you lease a vehicle . In this case , the bank or leaseholder , which is the actual owner of the vehicle might require you , the lessee , to carry minimum liability coverage on your insurance policy . A normal amount of liability coverage that you may be required to carry would be 100,000 / 300,000 / 100,000 with deductibles for comprehensive and collision no higher than $ 1,000 . If your policy affords coverage to meet these requirements , the leasing company would deem your coverage to be `` valid '' . Hope this helps . -- @MooneyInsurance | The only way to tell if something is a Medigap plan is if it has a letter . For example , Plan F or Plan G. AARP is the brand name for the Medicare products through United Healthcare . However , they offer Medigap plans and Medicare Advantage plans so it 's important to understand what you are getting . There are big differences between the two . AARP & United Healthcare have great name recognition in the Medigap Plan & Medicare markets . United Healthcare is an `` A '' rated insurance company . However , the premiums could be higher in certain areas for exactly the same plan . It 's important to work with an independent agent who can show you AARP Medigap Plans as well as all the other `` A '' rated carriers in your area . We work with folks to determine which is the best carrier for them . We offer AARP and a lot of the other top `` A '' rated carriers . We never charge a fee for our service . |
Why Should One Buy Life Insurance? | If you love someone you need life insurance . Do you want your loved one to be forced to try to come up with money to pay the high cost of funeral and final expenses in a time of grief ? Can your spouse or loved ones afford to pay the debt you leave behind ? Do you want your spouse and children to be able to continue to live in the home you worked hard to provide ? If you have no debt , no wife or kids and no loved ones you still must be buried or cremated . You should at least have enough insurance or funds set aside for that ! | Disability policies coordinate with each other . Think about it . If you had 2 or more policies which when you add up the benefit would pay you over your income , ever one would have several . Generally speaking , depending on your occupation , income and medical status , your disability policy will cover anywhere from 50-80 % of your income . If you have 2 policies , the 2 company would generally pay the difference up to the maximum , so up to 80 % if that is the benefit you so qualified for . I would strongly recommend that you send a copy of your policy to an agent/broker who works with Disability policies and see where you stand , what makes the most sense with a second policy , etc. . IF you do not have an agent or broker , let me know and I 'd be happy to give you a review and recommendation . Oh , congratulations on having a Disability policy . That is an important step in maintaining your Financial Security . |
Why Should One Buy Life Insurance? | One should buy life insurance for many reasons including , but not limited to : * It will allow youto provide for your family or loved ones after you are gone . * It will protect your home or your business if you were to die too young . * It can take care of your final expenses so that responsibility does not fall onto your survivors . | No . Life insurance does not have deductibles . When the insured individual dies , the insurance company pays out the face amount of the coverage to the beneficiary of the policy . Please note , if you have a permanent insurance program and the policyowner borrowed funds from the policy -LRB- creating a loan -RRB- and did not pay it back when the insured dies , the outstanding loan amount and any interest would be deducted from the payout and the difference would go to the beneficiary . I hope the information is helpful - please feel free to contact me for help with your program and if you have any other questions . Thanks very much . |
When Is One Eligible For Medicare At What Age? | Normally , one is eligible for Medicare at age 65 . Enrollment for Part A is automatic based on prior employment . Persons under age 65 can be eligible if they qualify as disabled by Medicare . If one becomes disabled , they should apply to Medicare to determine if they qualify for Medicare . | No one can get life insurance on you without your knowledge or signature on the life application . You also have to prove `` insurable interest '' between the two parties : policy insured and the policy beneficiaries . In addition , you would also need to determine the amount of coverage though financial documentation . |
Is Etrade Good For Roth IRA? | A Roth IRA is not related to etrade in any direct way unless you simply have your Roth IRA as part of your etrade account . Let 's look at the basic definitions . A Roth IRA is an Individual Retirement Arrangement -LRB- see IRS Publication 590 -RRB- that is generally not taxed if you meet certain conditions . Your Roth IRA can contain a wide variety of financial products including stocks , bonds , mutual funds , CDs , annuities and much more . Etrade is generally considered an online discount stock brokerage service for self-directed investors . You can open a Roth IRA at thousands of institutions . One of those financial institutions is etrade . Whether that would be `` good '' is largely dependent on you and your choices of how you invest your Roth IRA funds . | Critical Illness Insurance premiums are not tax deductible to individuals purchasing Critical Illness Insurance policies . However , if the insured person is diagnosed with a qualifying critical illness , the benefit paid is not taxed to the person who collects on the policy when the benefit is paid out to them . |
Can I Buy Auto Insurance Without A Driver'S License? | Yes , under certain circumstances you can purchase an auto policy without having a license . It is going to depend on several factors . Some companies will allow another licensed driver to be first named insured on an auto policy for a vehicle that you own . A comprehensive only policy may be an option as well . This will cover the vehicle for physical damage other than collision while it is stored . There is no liability coverage afforded with this sort of policy . If your license is suspended , I am aware of one company that will write a policy in your name . They then stipulate that your license be in good standing within 30 days of policy inception . Remember , companies offer different coverage and must operate under different rules from state to state . Talking to a broker is most likely your best bet . Good luck ! | The death benefit from life insurance is usually paid out tax free if it is paid directly to the beneficiary -LRB- s -RRB- . If it goes through the estate -LRB- no human beneficiary named -RRB- it will usually be taxed . If you are planning a larger estate , you will want to involve an estate planning attorney , a life insurance agent and a CPA as your advisory team . There are certain situations where you may be taxed if you do not plan well . A big advantage of whole-life insurance is that you can also use it for tax free income before you die . Life insurance is one of the most tax favorable money management tools you have available . |